US gold futures hit record high

U.S. gold futures reached a record high on Friday after Trump's tariffs were imposed on imports of 1 kg bullion bars. December futures rose 1% to $3,489.40, previously hitting $3,534.10. The spot price remained stable at $3,399.22 per ounce.

The tariff, which affects Swiss imports, widened the futures-spot spread to over $100. Analyst Zain Vawda noted that "the tariff will definitely disrupt gold trade" and could raise consumer prices.

Market experts expect increased safe-haven demand and potential supply bottlenecks affecting prices. Concurrently, the Federal Reserve may cut interest rates next month, further supporting gold. Spot silver rose slightly, while platinum and palladium fell.